Garden Route export and import trade growing

GARDEN ROUTE NEWS - Total exports from the Garden Route district increased by 17,45% from 2018 to 2020 (R3,63bn to R4,26bn), whereas imports increased by 282,09% to R6,22bn in 2020 from R1,63bn in 2019.

This is according to Wesgro's recently issued destination sector fact sheet.On average, the district maintained a positive trade balance of R1,09bn over the period analysed, with the only exception occurring in 2020 when imports were R1,96bn higher than exports.

Agricultural products contributed the biggest share to exports with the top products being citrus fruit (24,61%), seed, fruit and spores of a kind used for sowing (11,29%), and apples, pears and quinces (10,59%).

The top three imported products are refined petroleum oil (49,24%), crude oil (21,11%) and warships and lifeboats (3,57%).

Export markets

The top destination markets for Garden Route exports in 2020 were the Netherlands (11,66%), the United States (8,52%), China (7,02%) and France (6,08%). In terms of the fastest growing export markets in the period 2016 to 2020, Bangladesh had the highest growth of 168,83%, followed by the UAE (74,51%) and China, which grew at an average annual rate of 40,95%.

Exports from the Garden Route to Bangladesh and the UAE showed the highest growth.

Source countries for imports

India accounted for the largest share of Garden Route imports, accounting for 18,97% of the total in 2020. This was followed by Singapore (14,33%), China (12,92%) and Nigeria (11,38%).

Imports from Nigeria increased from R353 492-million in 2019 to R707,90-million in 2020. This resulted in Nigeria claiming the highest average growth market of 41 899% per annum from 2016 to 2020.

Other high growth import markets were Singapore (7 472,37%), Norway (5 016,23%), and India, which grew at an average annual rate of 1 082,34% over the period 2016 to 2020.

Agricultural products contributed the biggest share to exports from the Garden Route.